A STUDY EMPLOYEE RETENTION STRATEGY IN RANE BRAKE LINING LIMITED ABSTRACT Today's labor force is different.

Supervisors must take responsibility for their own employee retention. If they don't, they could be left without enough good employees. A wise employer will learn how to attract and keep good employees, because in the long run, this workforce will make or break a company's reputation. Employee retention involves taking measures to encourage employees to remain in the organization for the maximum period of time. The leading companies are facing lot of problem in employee retention these days. Hiring knowledgeable people for the job is essential for an employer. In this era of global business, new supervisors must be prepared to be collaborative, supportive, and nurturing of their people. The old style of "my-way-orthe-highway" style of management is a thing of the past. But retention is even more important than hiring. There is no dearth of opportunities for talented person. There are many organizations which are looking for such employees. If a person is not satisfied by the job hes doing, he may switch over to some other more suitable job. In todays environment it becomes very important for organizations to retain their employees. The effective employee retention can led to certain benefits to the employees. When an employee leaves a company for a direct competitor, there is always a chance that they will take important business strategies and secrets with them to be explained by the competition. This is yet another reason why the retention of employees is so crucial to some businesses. One way for a company to prevent employees from giving valuable information to competitors is to make it a policy to enforce strict noncompete and confidentiality agreements amongst its employees. Every company should understand that people are their best commodity. Without qualified people who are good at what they do, any company would be in serious trouble. In the long run, the retention of existing employees saves companies money. The employee retention strategy is important and that is to be carried out effectively by the HR. The aim of the study is to

highlight the employee retention strategy in Rane Brake Lining Limited. In order to carried out the study the data collections will be done through designed questionnaire and the datas will be collected from the employees of Rane Brake Lining Limited and the statistical tools chi-square and weighted average methods are employed for data analysis Where recently a survey shows that employee turnover can cost an organization almost 4- 5 times more than an annual employee salary. A study conducted by some B- schools researched that 80% of employee turnover is attributable to blunders committed during the recruitment process. Being an HR professional we need to understand employee turnover is not a disease but it is a symptom of the disease.

Introduction to employee retention In order to retain employees and reduce turnover managers must learn to align organization or business goals with the end goals of employees. By aligning the rewards and needs of employees, managers can determine the proper reward system to most effectively increase job satisfaction of employees. Valence is the degree to which the rewards offered by an organization align with the needs employees seek to fulfill. High valence indicates that the needs of employees are aligned well with the rewards system an organization offers. Conversely, low valence is a poor alignment of needs with rewards and can lead to low job satisfaction and thereby increase turnover and decrease retention. Expectancy theory implementation has several other aspects that can lead to high job satisfaction and high retention rates for organizations. Increasing expectancy in an organization can be done by properly training employees and thereby making them more confident in their abilities. Increasing instrumentality within an organization will be part of implementing a proper rewards system for attainment of specific goals and accomplishments. 1.2 Need & Importance of Employee Retention

Employee Retention refers to the techniques employed by the management to help the employees stay with the organization for a longer period of time. Employee retention strategies go a long way in motivating the employees so that they stick to the organization for the maximum time and contribute effectively. Sincere efforts must be taken to ensure growth and learning for the employees in their current assignments and for them to enjoy their work. Employee retention has become a major concern for corporates in the current scenario. Individuals once being trained have a tendency to move to other organizations for better prospects. Lucrative salary, comfortable timings, better ambience, growth prospects are some of the factors which prompt an employee to look for a change. Whenever a talented employee expresses his willingness to move on, it is the responsibility of the management and the human resource team to intervene immediately and find out the exact reasons leading to the decision. The HR Professional shortlists few individuals from a large pool of talent, conducts preliminary interviews and eventually forwards it to the respective line managers who further grill them to judge whether they are fit for the organization or not. Recruiting the right candidate is a time consuming process. An organization invests time and money in grooming an individual and make him ready to work and understand the corporate culture: A new joinee is completely raw and the management really has to work hard to train him for his overall development. It is a complete wastage of time and money when an individual leaves an organization all of a sudden. The HR has to start the recruitment process all over again for the same vacancy; a mere duplication of work. Finding a right employee for an organization is a tedious job and all efforts simply go waste when the employee leaves. When an individual resigns from his present organization, it is more likely that he would join the competitors. In such cases, employees tend to take all the strategies, policies from the current organization to the new one. Individuals take all the important

data, information and statistics to their new organization and in some cases even leak the secrets of the previous organization. To avoid such cases, it is essential that the new joinee is made to sign a document which stops him from passing on any information even if he leaves the organization. Strict policy should be made which prevents the employees to join the competitors. This is an effective way to retain the employees. The employees working for a longer period of time are more familiar with the companys policies, guidelines and thus they adjust better: They perform better than individuals who change jobs frequently. Employees who spend a considerable time in an organization know the organization in and out and thus are in a position to contribute effectively. Every individual needs time to adjust with others. One needs time to know his team members well, be friendly with them and eventually trust them. Organizations are always benefited when the employees are compatible with each other and discuss things among themselves to come out with something beneficial for all. When a new individual replaces an existing employee, adjustment problems crop up. Individuals find it really difficult to establish a comfort level with the other person. After striking a rapport with an existing employee, it is a challenge for the employees to adjust with someone new and most importantly trust him. It is a human tendency to compare a new joinee with the previous employees and always find faults in him. It has been observed that individuals sticking to an organization for a longer span are more loyal towards the management and the organization: They enjoy all kinds of benefits from the organization and as a result are more attached to it. They hardly badmouth their organization and always think in favour of the management. For them the organization comes first and all other things later. It is essential for the organization to retain the valuable employees showing potential: Every organization needs hardworking and talented employees who can really come out with something creative and different. No organization can survive if all the top

performers quit. It is essential for the organization to retain those employees who really work hard and are indispensable for the system. The management must understand the difference between a valuable employee and an employee who doesnt contribute much to the organization. Sincere efforts must be made to encourage the employees so that they stay happy in the current organization and do not look for a change. 1.3 Employee Retention Strategies For an organization to do well and earn profits it is essential that the high potential employees stick to it for a longer duration and contribute effectively. The employees who spend a considerable amount of time tend to be loyal and committed towards the management and always decide in favour of the organization. When you meet someone, there is hardly any attachment in the beginning, but as the friendship matures, a sense of loyalty and trust develops. In the same way, when an individual spends a good amount of time in an organization, he gets emotionally bonded to it and strives hard for furthering the brand image of the organization. The management cant completely put a full stop to the process of employees quitting their jobs but can control it to a large extent. An employee looks for a change when his job becomes monotonous and does not offer anything new. It is essential for everyone to enjoy whatever he does. The responsibilities must be delegated according to the individuals specialization and interests. It is the responsibility of the team leader to assign challenging work to his team members. Performance reviews are important to find out whether the employees are really happy with their work or not. Conflicts must be avoided to maintain the decorum of the place and avoid spreading negativity around. Promote activities which bring the employees closer. Organize outdoor picnics, informal get together for the employees to know each other better and

strengthen the bond among them. Let them make friends at the workplace whom they can really trust. Friendship among employees is one strong factor which helps to retain employees. Individuals who have reliable friends at the workplace are reluctant to move on for the sake of friendship. No one likes to leave an organization where he gets mental peace. It is essential to have a cordial environment at the workplace. The human resource department must ensure that it is hiring the right candidate. Frustration crops up whenever there is a mismatch. A finance professional if is hired for a marketing profile would definitely end up being frustrated and look for a change. The right candidate must be hired for the right profile. While recruiting a new candidate, one should also check his track record. An individual who has changed his previous jobs frequently would also not stick to the present one and thus should not be hired. Employee recognition is one of the most important factors which go a long way in retaining employees. Nothing works better than appreciating the employees. Their hard work must be acknowledged. Monetary benefits such as incentives, perks, cash prize also motivates the employees to a large extent and they prefer sticking to the organization. The performers must have an upper edge and should get a special treatment from the management. Performance appraisals are also important for an employee to stay motivated and avoid looking for a change. The salary hike should be directly proportional to the hard work put by the employees. Partiality must be avoided as it demotivates the talented ones and prompt them to look for a better opportunity. The salary of the employees must be discussed at the time of the interview. The components of the salary must be transparent and thoroughly discussed with the individuals at the time of joining to avoid confusions later. The individuals should be made to join only when the salary as well as other terms and conditions are acceptable to them.

The companys rules and regulations should be made to benefit the employees. They should be employee friendly. Allow them to take a leave on their birthdays or come a little late once or twice in a month. It is important for the management to understand the employees to gain their trust and confidence. The consistent performers must also have a say in the companys decisions for them to feel important. 1.4 Implement retention strategy Once the causes of attrition are found, a strategy is to be implemented so as to reduce employee turnover. The most effective strategy is to adopt a holistic approach to dealing with attrition. An effective retention strategy will seek to ensure Attraction and recruitment strategies enable selection of the right candidate for each role/organization New employees initial experiences of the organization are positive Appropriate development opportunities are available to employees, and that they are kept aware of their likely career path with the organization The organizations reward strategy reflects the employee drivers The leaving process is managed effectively

1.5 Reasons for employees leave an organization 1. Expectations not met: Expectations play a large part in determining whether an employee is satisfied or dissatisfied with the current state of affairs. On joining the firm the individual will have a range of expectations covering areas such as the style of management, the working hours, holidays, pay, bonus and so on. It is not unusual for employees to leave within the first six months when they discover that things arent quite as they imagined they would be. Their expectations may have been unrealistic from day one, but each departure is yet more disruption, harming productivity, adding extra unnecessary costs and making it more difficult to reach goals for sales, revenue and profitability. Few firms seem to appreciate the importance of expectations. They dont ask candidates about their expectations, giving them the opportunity to select someone who is unlikely to be disappointed, and therefore, more likely to stay. 2. Mismatch between the person and the role Employees who find themselves in roles that do not suit their individual strengths, tend not to stay around that long. A productive employee gets promoted into a position that requires skills that they do not possess. A role that exposes their weaknesses, and as a result, a role that they do not enjoy. Faced with the prospect of having to spend many months, perhaps years, in a job that is a struggle, a job that they find difficult, a job that is a mismatch for their specific talents, most of them choose to leave the company and go. 3. Mismatch between person and the culture of the firm

It is not so much that there is a single ideal culture, more that cultures vary, and as many departures show, not everyone is likely to be ideally suited to culture of your firm. Some workplaces are high pressured, fast paced, dynamic. Ideal for people who thrive on adrenaline, who enjoy this tempo, constantly being on the go. Others are caring, emotional, long discussions, shared views. Endless dialogue before action is taken. Everyones opinion counts. Put an employee in a culture that suits their temperament and they feel at home. It is an environment in which they can function to the best of their abilities. But put an employee in a firm whose culture does not suit their personality, their style or their approach and it rarely works. They dont settle, they under -perform, they miss the feel of previous employers where they were able to contribute more. They leave. 4. Insufficient opportunities for growth and advancement Employees want to make progress, to get ahead. They want to make that next step up the career ladder. They think about where they would like to be in 5 years time, in 10 years time. Their loyalty is largely to themselves, to make the most out of the natural talents, the skills, and determination they possess. They recognize the importance of building new skills, refining current ones, getting new experiences. If the opportunities arent available with their current employer, they will find look elsewhere. 5. Insufficient recognition or appreciation The Employees that dont receive adequate recognition for their contribution, that get little appreciation for their efforts, start to wonder why they bother. And it doesnt take much to tempt them away.

Employees that did not feel valued, that felt that their efforts, their hard work, was not appreciated. That their achievements, their contribution to the success of the business, was not recognised. Employees want to feel valued; as though their role is important, as though the business needs them. They want someone to say thank you. Thanks for that piece of work, thanks for helping out in a crisis, thanks for dealing with that problem. 6. Problems with direct manager The state of the relationship between an employee and their direct manager goes a long way towards determining whether they stay or leave. Some employees stay far longer than might otherwise be expected because of the relationship they have with their supervisor. Others leave jobs in the first few months because they sense their manager is not someone that brings the best out of them. And they need to get away. Because the daily challenge of dealing with someone they dislike, someone that lacks basic people skills, is just too much to bear. Poor relationships between employees and their managers are one of the most common reasons for employee turnover. 7. Dissatisfaction with pay Not receiving a fair salary, a fair pay rise, a fair bonus. Dissatisfaction with financial rewards is complex. Much of the dissatisfaction is due to comparisons. A previously adequate salary starts to feel insufficient when you have just learnt that a new arrival is receiving a higher wage for performing a similar role.

Salaries rarely remain a secret. The information leaks out. If it isnt fair, if it isnt equitable, if the procedure for determining pay settlements is tainted, employees become dissatisfied. And in time many of them leave. 8. Stress The stress of work, the stress from working long hours, the stress related to pressure from above; employees can take only so much. Stress drives employees into the arms of alternative employers. They simply want to get away from the workplace, from the people involved, from the firm. A stressful workplace is rarely a productive one. Attrition is high, people dont matter; there will always be someone else to fill the vacancy. And in time they too will probably leave for much the same reasons. Stressful work environments tend to be high turnover environments. If there is an alternative, people take it. 9. Lack of work life balance Employees have responsibilities to their employer, to their families, to their friends. There are times when the demands of work require extra hours, staying late to get things finished, working during weekends to meet deadlines. For some employees the demands of work are no longer compatible with the needs of their family, the needs that exist beyond the workplace. Perhaps they coped better when they were younger, before they got married, before they had a family. But now the arrangement just isnt practical. They need a better balance. They need to have time for themselves. Time to take care of loved ones. Free time not devoted to work. 10. Loss of confidence in the firm, particularly leadership.

Confidence matters. Companies go bust; you just need to read the papers, watch the news, to realize the risk involved. When employees lose confidence in the firms leadership they head towards the exit door. They know that confidence matters, that seemingly invincible companies can collapse in days, if not hours. They dont want to be left without a job, should the company go under, or be taken over. 1.6 Tools for Employee Retention 1. Employee Reward Program- You can make a provision of Monthly or Quarterly Award (depending upon the budget) for the best employee, Awarding 2 or 3 best workers each month. The award can be in terms of gifts or money. If it is money then it should be divided into two parts, first part to be given with the next month salary and the remaining after 6 months. In this way he/she can be retained for 6 more months. These rewards shall be considered at the time of appraisal. 2. Career Development Program- Every individual is worried about his/her career. You can provide them conditional assistance for certain courses which are beneficial from your business point of view. Conditional assistance means the company will bear the expenses only if he/she gets an aggregate of certain percentage of marks. And entrance to that course should be on the basis of a Test and the number of seats to be limited. For getting admitted to such program, You can propose them to sign a bond with the company, like they cannot leave the company for 2 years or something after the successful completion of the course. 3. Performance based Bonus- The employee always comes to know about the profit of the company which is of course based on the strategic planning of the top management and the productivity of the employee. To get more work out of the employee, You can make a provision of Bonus. By this employee will be able to relate himself with the

companys profit and hence will work hard. This bonus should be productivity based. You can make sure that this bonus is not adding extra-pressure on the budget of Your Company and you can arrange this by cutting a part of the salary hikes and presenting it to the employees in the form of bonus. 4. Employee Referral Plan- You can introduce Employee Referral Plan. This will reduce your cost (charges of external consultants and searching agencies) of hiring a new employee and up to an extent you can rely on this new resource. On every successful referral, employee can be given a referral bonus after 6 or 9 months of continuous working of the new employee as well as the existing employee. By this you can get a new employee at a reduced cost as well as are retaining the existing one for a longer period of time. 5. Loyalty Bonus- You can introduce a Loyalty Bonus Program in which you can reward your employee after a successful completion of a specified period of time. This can be in the form of Money or Position. This will encourage the fellow employees as well whether they are interested in money or position, they will feel fascinated. 6. Giving a voice to the Knowledge Banks- First of all you should try to retain your workforce intact, as they are the intellectual asset of the company. And above that you cant afford losing your knowledge banks. These are the people who stabilize the process. You can involve them in some of the decisions. 7. Employee Recreation- You should also let your employees enjoy in a light mood. You can take your employees to a trip or for an outing every year or bi-yearly. You can make use of this trip as well. You can start this trip with an opening note about the management views and plans, strategies etc. At the same time you can involve your top management into some of the fun activities as this will make feel the employees that they are very close to the management and everybody is same.

8. Gifts at some Occasions- You can give some gifts at the time of one or two festivals to the employees making them feel good and understand that the management is concerned about them. 9. Accountability- You should make each employee accountable so that he can also feel that he is as important as his manager. If he/she will be filled with this sense, he/she will seldom think of leaving the company. 10. Making the managers effective and easily accessible- You should make the management easily accessible so that the employee expectations can be clearly communicated to the top management, as it is impossible for the top management to reach each employee frequently. 11. Surveys- You should conduct regular surveys for feedbacks from employee about their superiors as well as other issues like food, development plans and other suggestions. This will make them feel of their importance and the caring nature of the company. Some of the suggestions might be of real good use for the company.

CHAPTER 2 COMPANY PROFILE 2.1 Profile Established in 1964

 Technical and financial collaboration with Nisshinbo Industries, Japan for manufacturing Asbestos Free Brake Linings, Disc Pads and Clutch Facings. Application in every segment of the automobile industry Market leader in India Exporting to more than 15 countries 2.2 Design Research and development is prime thrust area Dedicated facility for new product development for critical applications including aerospace. Products are consistently updated in tune with evolving customer demands Green Material Policy is evolved to ensure products meet stringent eco norms Design centre has Computer Aided Design (CAD) and sophisticated test equipment like full-scale inertia dynamometer, thermo gravimetric analyser, pyrolysis gas chromatograph etc. 2.3 Manufacturing The complete spectrum of products from RBL are manufactured in 3 plants located at Chennai, Hyderabad and Puducherry. The plant at Puducherry is an exclusive Asbestos Free Facility. Automotive products:Brake linings, disc pads and clutch Chennai plant facings. Railway products: Railway brake blocks. Automotive products:Brake linings & clutch facings. Hyderabad plant Puducherry plant Railway products: Railway brake blocks Automotive products:Brake linings disc pads & cord

woven clutch facings. Railway products: Railway brake blocks. Trichy plant Automotive products:Disc pads.

CHAPTER 3 LITERATURE REVIEW 3.1 Theories related to retention 3.1.1 Valence and Retention In order to retain employees and reduce turnover managers must learn to align their goals with the end goals of employees. By aligning the rewards and needs of employees, managers can determine the proper reward system to most effectively increase job satisfaction of employees. Valence is the degree to which the rewards offered by an organization align with the needs employees seek to fulfill. High valence indicates that the needs of employees are aligned well with the rewards system an organization offers. Conversely, low valence is a poor alignment of needs with rewards and can lead to low job satisfaction and thereby increase turnover and decrease retention. Expectancy theory implementation has several other aspects that can lead to high job satisfaction and high retention rates for organizations. Increasing expectancy in an organization can be done by properly training employees and thereby making them more confident in their abilities. Increasing instrumentality within an organization will be part of implementing a proper rewards system for attainment of specific goals and accomplishments. 3.1.2 Retention and Motivation Theory Retention has a direct and causal relationship with employee needs and motivation. Applying a motivation theory model, such as Maslows Hierarchy of Needs, is an effective way of identifying effective retention protocol.

Each of the five tiers of Maslows hierarchy of needs relates to optimal retention strategy. Since Maslows introduction of his motivation model, organizations have been employing strategies attempting to stimulate each of the five humanitarian needs described above to optimize retention rates. When applied to the organizational model, meeting the self-actualization and esteem needs of an employee tend to correlate to better retention. Physiological, safety, and social needs are important as well, however, and must be addressed to better the work environment. While implementing a retention strategy is ideal, successful satisfying all five needs of employees is not only difficult, but also expensive. That being said, managers who attempt to maximize employee need coverage tend to be more concerned with employee satisfaction. 3.1.3 Herzberg's Theory An alternative motivation theory to Maslows Hierarchy of Needs is the Motivator Hygiene (Herzbergs) theory. The theories have overlap, but the fundamental nature of each model differs. While Maslows Hierarchy implies the addition or removal of the same need stimuli will enhance or detract from the employees satisfaction, Herzbergs findings indicate that factors garnering job satisfaction are separate from factors leading to poor job satisfaction and employee turnover. Herzbergs system of needs is segmented into motivators and hygiene factors. Like Maslows Hierarchy, motivators are often unexpected bonuses that foster the desire to excel. Hygiene factors include expected conditions that if missing will create dissatisfaction. Examples of hygiene factors include bathrooms, lighting, and the appropriate tools for a given job. Employers must utilize positive reinforcement methods while maintaining expected hygiene factors to maximize employee satisfaction and minimize retention. 3.1.4 Equity Theory Equity Theory realizes the humanitarian concern with fairness and equality. While one party may be given motivational rewards and opportunities, the individual will assess the work-reward ratio based on similar, external positions. If the individual feels the

rewards and motivators do not meet the standard, the employee will either lose motivation, request more compensation, or leave their current position in search of more favorable benefits. Because of this, firms must not only recognize internal obligations, but also attempt to equalize or outperform competition in meeting employee needs. 3.2 Motivation in Employee Retention Employee retention involves various steps taken to retain an employee who wishes to move on. An employee must find his job challenging and as per his interest to excel at work and stay with the organization for a longer period of time. The management plays an important role in retaining the talented employees who are familiar with the working conditions of the organization and thus perform better than the employees who just come and go. Motivation plays an important role in employee satisfaction and eventually employee retention. Nothing works better than motivation. Motivation acts as a catalyst to an individuals success. The team leaders and the managers must constantly motivate the employees to extract the best out of them. If an employee has performed exceptionally well, do appreciate him. Simple words like Well done,Bravo,Good,Keep it up actually go a long way in motivating the employees. The top performers must be in the limelight. The employees must feel indispensable for the organization. It is essential for the employees to be loyal towards their organization to deliver their level best. Does anyone spoil his personal belongings? No. The reason being we are concerned about our own stuff. In the same way a sense of belonging at workplace is important for better output. Ownership of work only comes through motivation. Ask the team members to buck up so that they perform well every time and meet the expectations of the management.

The superiors should send motivational emails to their team once in a week. Display inspirational posters, photographs on the notice board for the employees to read and stay motivated. It is natural for an individual to feel low sometimes, but the superiors must ensure to boost their morale and bring them back on track. No individual should be neglected or criticized. This demotivates them. If they fail to perform once, motivate them and give them another opportunity. Organize various activities and events at the workplace. Ask each one to take charge of something or the other. Engage the employees in productive tasks necessary for their overall development. The management must show its care and concern for all the staff members. The employees must feel secure at the workplace for them to stay motivated. Whenever any company policy is to be formulated, the opinion of each and every employee should be taken into consideration. Invite all of them on a common platform and ask for their suggestions as well. Freedom of expression is must. Every employee must have a say in the organizations guidelines as they are made only to benefit them. Incentives, perks, cash prizes are a good way to motivate the employees. The employees who have performed well consistently should be felicitated in front of all the staff members as well as the management. Give them trophies or badges to flaunt. Ask the audience to give a loud applause to the employees who have performed well. This is a good way to motivate the employees for them to remain happy and work with dedication for a longer duration. Others who have not performed up to the mark also gear up for future. The names of the top performers must be put on the companys main notice board or bulletin board for everyone to see. Appraisals are also an important way to motivate the employees. The salaries of the performers must be appraised at regular intervals- an effective way to retain the employees. Career growth is an important way to retain the talented employees. Give

them power to take some decisions on their own but the management must have a close watch on them so that they do not misuse their power. Without motivation, it is not fair to expect the best out of the employees. No individual likes to leave an organization where he is being treated well. 3.3 Role of HR in Employee Retention An organization cant survive if the top performers quit. It needs employees who are loyal and work hard with full dedication to achieve the organizations objective. It is essential for the management to retain its valuable employees who think in favour of the organization and contribute their level best. An employee who spends a longer duration at any particular organization is familiar with the rules, guidelines and policies of the organization and thus can adjust better. The Human Resource team plays an important role in employee retention. Let us find out their role in the same: Whenever an employee resigns from his current assignments, it is the responsibility of the HR to intervene immediately to find out the reasons which prompted the employee to resign. No one leaves an organization without a reason. There has to be one and the human resource team must probe into it. There can be innumerable reasons for an employee to leave his current job. The major ones being conflict with the superiors, lesser salary, lack of growth, negative ambience and so on.

It is the duty of the HR to sit with the employee and discuss the various issues face to face. Understand his problems and listen to his side of the story as well. Remember the HR should not focus on conducting exit interviews, rather more emphasis should be laid on retaining the employees.

Try to provide a solution to his problem. Hiring is a tedious process and it is really very difficult to recruit the right candidate and train him once again. Do check the track record of the employee who wishes to move on. It is really essential for the management to retain those employees who have the potential and are really indispensable for the organization. If they leave and join the competitors; the organization would be at loss. If one feels that the employee is not very happy with his team leader, try to shift him to a new team. If the employee feels his salary is not justified, try to give him a hike but make sure he is worth it and you dont end up upsetting others.

The HR person must ensure that he is recruiting the right employee who actually fits into the role. A right person doing the wrong job would never find his job interesting and certainly look for a change. Make sure every individual has been assigned responsibilities according to his specialization and interest. The employees must be clear with their KRAs from the very beginning. Every individual works for money and the HR must quote a justified salary acceptable to the other person. Dont compel anyone to join at a lesser salary. He might join at that moment but would most likely quit after sometime. The hike should be on the present salary and must match the market trends and the expectations of the individual.

The human resource department must conduct motivational activities at the workplace. Organize various internal as well as external trainings which help the employees to learn something extra apart from their routine work. Make them participate in extracurricular activities important for their overall development. Encourage them to interact with each other so that the comfort level increases.

The HR must launch various incentive schemes for the top performers to motivate them. This way the employees feel important for the organization and strive hard to

perform even better the next time. The employees who show promise should be awarded with cash prizes, lucrative perks and certificates to make the individual stand apart from the crowd. Send a mail wishing the employees on their birthdays or congratulating them when they perform exceptionally well or come out with something innovative. Arrange a small bouquet for them as a gift from the organizations side. This way the employees feel attached to the organization and are reluctant to look for a change. A friendly atmosphere is essential for the employees to feel safe and secure. Make them participate in various management decision making.

Performance reviews are a must. The HR along with the respective team leaders must monitor their team members performance to ensure whether they are enjoying the work or not. The employees look for a change only when their job becomes monotonous and does not offer any growth or learning. Job rotation can be one of the effective ways to retain employees. The HR professional must try his level best to motivate the employees, make them feel special in the organization so that they do not look for a change. 3.4 Challenges in Employee Retention In the current scenario, a major challenge for an organization is to retain its valuable and talented employees. The management can control the problem of employees quitting the organization within no time to a great extent but cant put a complete full stop to it.There are several challenges to it. Monetary dissatisfaction is one of the major reasons for an employee to look for a change. Every organization has a salary budget for every employee which can be raised to some extent but not beyond a certain limit. Retention becomes a problem when an employee quotes an exceptionally high figure beyond the budget of the organization and is just not willing to compromise. The

organization needs to take care of the interests of the other employees as well and cant afford to make them angry. The salaries of the individuals working at the same level should be more or less similar to avoid major disputes amongst employees. A high potential employee is always the center of attention at every workplace but one should not take any undue advantage. One should understand the limitation of the management and quote something which matches the budget of the organization. An individual should not be adamant on a particular figure, otherwise it becomes difficult for the organization to retain him. Remember there is a room for negotiation everywhere. In the current scenario, where there is no dearth of opportunities, stopping people to look for a change is a big challenge. Every organization tries its level best to hire employees from the competitors and thus provide lucrative opportunities to attract them. Employees become greedy for money and position and thus look forward to changing the present job and join the competitors. No amount of counseling helps in such cases and retaining employees becomes a nightmare. Individuals speak all kind of lies during interviews to get a job. They might not be proficient in branding but would simply say a yes to impress the recruiter and grab the job. It is only later do people realize that there has been a mismatch and thus look for a change. Problems arise whenever a right person is into a wrong profile. An individual loses interest in work whenever he does something out of compulsion. The human resource department should be very careful while recruiting new employees. It is really important to get the reference check done for better reliability and avoid confusions later. Some individuals have a tendency to get bored in a short span of time. They might find a job really interesting in the beginning but soon find it monotonous and look for a change. The management finds it difficult to convince the

employees in such cases. Individuals must also understand that every organization has some or the other problem and adjustment is required everywhere, so why not in the present organization? It becomes really difficult for the HR Department to find out what exactly is going on in the minds of the individual. An individual should voice his opinions clearly to make things easier for the management. Unrealistic expectations from the job also lead to employees looking for a change. There is actually no solution to unrealistic expectations. An individual must be mature enough to understand that one cant get all the comforts at the workplace just like his home. Individuals from different backgrounds come together in an organization and minor misunderstandings might arise but one should not make an issue out of it. An individual must not look for a change due to small issues. One needs time to make his presence feel at the organization and must try his level best to stick to it for a good amount of time and ignore petty issues. 3.4 Key points in retaining employee a) Recruiting The effort to retain the best personnel begins with recruiting. Attracting and retaining the best people are not two different things, but are the same thing. Both require creating and maintaining a positive reputation, internally as well as externally. Employers must be honest with the recruit about the beliefs, expectations, organizational culture, demands, and opportunities within the organization. By representing the organization realistically, a department will attract those who will be content working within the culture (Marx, 1995). Denton (1992, p.47) follows this up by stating that, the better the match between recruits and the organization the more likely you are to retain them. Lynn (1997) believes that you must take time during the hiring process to make wise decisions. The employer must be candid about the working conditions, responsibilities, opportunities and other details to reduce the chances of

making hiring mistakes. Taylor and Cosenza (1997) strengthen this thought by noting that it is imperative that companies give prospective employees a true picture of the organization, if they hope to match the personality type with the climate and culture of the organization. The literature was clear in pointing out that if departments want to increase retention they must start with a solid recruiting process.

b) Communications Carney (1998) believes that the key to employee retention is quite simple: communicate, communicate, and communicate. Communication with the employees must begin early on in the relationship. He believes that the imprinting period of a new employee is probably less than two weeks. Employers must engage the employee early on by sharing how important the job they do is. Lynn (1997) follows this up by stating that early on an atmosphere of fairness and openness must be created by clearly laying out company policies. Taylor and Consenza (1997) indicate that it is important to communicate the values of the organization to its employees in order to increase their level of consent, participation, and motivation. Lynn (1997) echoes this thought by pointing out that the vision of the organization must be shared with the employee as well as the importance the employees play in helping fulfill it. Lack of communication may result in gaps between managements perceptions of quality employment and the employees desired and perceived quality of employment (Taylor & Consenza, 1997). There must be a common purpose and trust among employees. People want to feel as if they are a vital piece of something larger (Carney, 1998). As Denton (1992) points out, managers must make sure employees know what they should do and why it is important. Lynn (1997) notes that communications must be a two way street to be effective. Employers must listen to what employees have to say. An atmosphere must be created in which employees feel comfortable making suggestions and trying our new ideas.

The

literature

revealed

that

communication

must

begin

early

in

the

employer/employee relationship. Organizational values and culture must be made clear to all employees and their importance within the organization must be continually emphasized. c) Training As was noted earlier it is important that the employee feel like a valued member of the organization. Training helps underscore this message. Training personnel is a way to show you respect them and want them to grow. The department is making an investment in the employee by offering training (Marx, 1995). Good training can deemphasize salaries and benefits, in part by building a positive work environment and by giving employees advancement opportunities (Lynn, 1997). Lynn goes on to say that training helps strengthen employee loyalty. Training can help revitalize personnel. For an increasing number of people, the chance to learn new skills is a significant personal goal for both the career opportunities education can provide and for the chance to do something a little different (Mendonsa, 1998). Training emphasizes to the employee that they are valued and respected. This in turn to increased loyalty and retention.

d) Job Satisfaction While an organization must be competitive in terms of compensation and benefits, it is the relationship with the supervisor that is often a crucial factor in determining whether a person stays or goes (Mendonsa, 1998). Employees want more interaction with management, more self-satisfaction on the job, more responsibility and more control over decisions affecting them. They want their work to make a difference and want to

be part of something that matters (Taylor, 1997). Departments should encourage innovation by soliciting the advice and input of their staff members, followed by responses to ideas, complaints or questions (Taylor, 1997). It is difficult to keep people on the job if they have no say in how to do it (Spragins, 1992). People need to be recognized for their accomplishments in the workplace. In most organizations the feeling of under-recognition is the most pervasive feeling in the workplace (Mendonsa, 1998). Provide a great deal of personal and team recognition (Carney, 1998). Recognize achievements with memos, mentions in staff meetings or articles in the newspapers (Lynn, 1997). To retain employees, departments must offer career advancement opportunities. Departments failing to offer employees career opportunities, room for advancement and enhancement of skills and knowledge may find it difficult to retain qualified employees (Taylor, 1997). Marx (1995) concludes this by pointing out that promoting from within is one of the proven methods of employee retention. Promoting from within shows that there is truly room for advancement and growth within the department. Employee involvement, recognition, importance of work, and career advancement opportunities are all important, when dealing with employee retention. e) Pay and Benefits In general people think that money and benefits or lack thereof, are the main reasons people leave their jobs, but this is not the case. While compensation and benefits may be a key factor in the final decision-making process, a money shortage is usually not what causes people to look in the first place (Mendonsa, 1998). Money may be the reason they give when they resign, but its like white noise. They are conscious of it for a while but if they are bored on the job, money alone is not going to keep them there (Branch, 1998). Although traditional benefits such as vacation and health are still important, todays workers are also looking for more non-traditional benefits. Benefits such as flexible work ours, availability of childcare tuition assistance programs and discounts on

services now top the list of desired benefits (Denton, 1992). The literature clearly indicates while still factors, money and benefits are not as important as job satisfaction in terms of employee retention.

CHAPTER 4 INTRODUCTION TO PROJECTS 4.1 PROBLEM DEFINITION

There are various problems associated with the reason for employee change his/her jobs from one organization to other. The main problems are No growth opportunity/lack of promotion Low Salary Misguidance by the company Policies and procedures are not conducive No personal life Physical strains Uneasy relationship with peers or managers This study focuses on identifying the solution to those problems and to retain the employee retention with reference to Rane Brake Lining Limited 4.2 NEED FOR THE STUDY In order to known about the factors influencing the employee retention in Rane Brake Lining Limited, the reason for employees to leave the organization, benefits provided to the employees this study has been carried out. It also need to find out the current employee satisfaction about retention strategy and the effectiveness of HRs to carried out the retention. Moreover the employee retention is a key role that is to be carried out by HR of an organization. 4.3. OBJECTIVES 4.3.1 Primary objective To Study about the employee retention strategy in Rane Brake Lining Limited 4.3.2 Secondary objectives To study about the concepts of employee retention strategy To study about the factors influencing employee retention.

 To study about the reasons for employees leave the organization. To study about the retention strategy carried out by the organization To study about the benefits provided to the employees 4.4 LIMITATIONS This study is only planned to be conducted in Rane Brake Lining Limited. This study may not resemblance the other sector industries. As the study is based on the primary data, the results are based on the data collections only. It may not be accurate up to 100%. It is difficult to collect the datas from HRs. The datas are collected o nly from the employees of Rane Brake Lining Limited, Trichy. The respondents may not answer to all the questions. It may lead to delay in data collection.

CHAPTER 5 RESEARCH METHODOLOGY o Type of Project This includes designing questionnaire for collection of data through field study, collecting data from target respondents, processing and analyzing the data and arriving at conclusions. o Target respondents The target of 150 respondents from the following group has been taken for the study. Employees of Rane Brake Lining Limited

o Proposed Sampling Methods Convenience Sampling Convenience sampling is also known as grab, opportunity, accidental or haphazard sampling. With this method, the researcher uses subjects that are easy to reach. In research methods, there are two primary classifications for sampling methods: nonprobability and probability. With probability sampling methods, all possible subjects out of a population have some chance of being included in the sample. Researchers can even calculate the mathematical probability of one of them being selected. They can also calculate sampling error, which is the degree to which the sample might differ from the actual population. o Data collection method Primary data

The primary datas are collected by designing a questionnaire. The questionnaires are designed to collect the datas need to attain the secondary objectives

Secondary data Secondary datas are collected from the various books, online journals and websites related to employee retention. o Tools used Percentage analysis Chi-Square analysis Weighted Average Method

CHAPTER 6 DATA ANALYSIS AND INTERPRETATION Age in years

Si No 1 2 3 4 5

Age 20-25 years 25-30 years 30-35 years 35-40 years 40 years and

No of respondents 28 36 22 30 34

Percentage of respondents 18.66667 24 14.66667 20

above Total 150

22.66667 100

22%

19% 20-25 years 25-30 years 24% 15%

20%

30-35 years 35-40 years 40 years and above

Inference From the table and pie chart found that age of the respondent.20-25years 19% of respondents, 25-30 years 24% of respondents, 30-35years 15% of respondents, 3540years 20% of respondents, 40 years and above 22% of respondents.

Working Experience

Si No 1 2 3 4 5 6 Total

Experience 1-2 years 2-3 years 3-4 years 4-5 years 5-6 years More than 6years

No of respondents 8 16 22 26 38 40 150

Percentage of respondents 5.333333 10.66667 14.66667 17.33333 25.33333 26.66667 100

30% 25% 25% 20% 15% 15% 11% 10% 5% 5% 0% 1-2 years 2-3 years 3-4 years 4-5 years 5-6 years 17%

27%

More than 6years

Inference From the table and column chart found that experience of the respondent.12years 5% of respondents, 2-3years 11% of respondents, 3-4years 15% of respondents, 45years 17% of respondents, 5-6years 25% of respondents, more than 6years27% of respondents. 1. What is the factor that attracts you towards this company? Si No 1 2 Pay Personal growth opportunity 3 4 Good employer Work environment 5 Others 28 16 18.66667 10.66667 22 36 14.66667 24 factors No of respondents 48 Percentage of respondents 32

Total

150

100

Others

10%

Work environment

19%

Good employer

24%

Personal growth opportunity

15%

Pay 0% 5% 10% 15% 20% 25% 30%

32% 35%

Inference From the above table and chart shows that the factor that attracts towards the company, Pay 32% of respondent, Personal growth opportunity 15% of respondent, good employer 24%of respondent, Work environment 19% of respondent, others 10% of respondent.

2. Rank your expectations from the company? Si No 1 factors Encourage team work 2 Provide stable 26 31 17.33333 20.66667 No of respondents Percentage of respondents

employment 3 4 5 6 Total Job security Good pay Motivation Career growth 20 28 25 20 150 13.33333 18.66667 16.66667 13.33333 100

Encourage team work Provide stable employment 21% 19% 13% Motivation Career growth Job security Good pay

13% 17%

17%

Inference From the chart shows that rank the expectation of the company. 3. How do you read the existing performance appraisal system in the company? Si No 1 particulars Fair No of respondents 25 Percentage of respondents 16.66667

2 3 4 5 Total

Accurate Relevant Satisfactory unsatisfactory

21 34 32 38 150

14 22.66667 21.33333 25.33333 100

25%

17% Fair 14% Accurate Relevant 23% Satisfactory unsatisfactory

21%

Inference From the above chart shows that how do read the existing performance appraisal system, fair 17% of respondent, accurate 14% of respondent, relevant 23% of respondent, Satisfactory 21% of respondent, Unsatisfactory 25% of respondent.

4. If there happens to be performance deficiency, what are the remedial measures available in the organization?

Si No 1 2 3

Measures Rest the goals Refresher training Withholding increments

No of respondents 35 40

Percentage of respondents 23.33333 26.66667

46 29 150

30.66667 19.33333 100

4 Total

Giving warnings

35% 30% 25% 20% 15% 10% 5% 0% Rest the goals Refresher training 23% 27%

31%

19%

Withholding increments

Giving warnings

Inference From the above chart shows that remedial measures for performance deficiency, 23% of respondents reset the goals, refresher training 27% of respondents, with holding increments 31% of respondents, giving warning 19% respondents. 5. Timeliness and accuracy of implementation of salary changes

Si No 1

particulars Delayed accurate but

No of respondents

Percentage of respondents

28 but 32 and 38 and 52 150

18.66667

Timely accurate

21.33333

Delayed accurate

25.33333

Timely accurate

34.66667 100

Total

35%

19% Delayed but accurate 21% 25% Timely but accurate Delayed and accurate Timely and accurate

Inference

From the above chart shows that Timeliness and accuracy of implementation of salary changes.19% of respondent Delayed but accurate, 21% of respondent Timely but accurate,25% of respondent Delayed and accurate,35% of respondent timely and accurate. 6. Recognized/reward when you out perform Si No 1 2 3 4 5 Total particulars Strongly disagree Disagree Neutral Agree Strongly agree No of respondents 25 23 25 42 35 150 Percentage of respondents 16.66667 15.33333 16.66667 28 23.33333 100

23%

17% Strongly disagree Disagree 15% Neutral Agree Strongly agree

28% 17%

Inference

From the above chart shows that Recognized/reward when you out perform, 17% of respondent strongly disagree, 15% of respondent disagree, 17% of respondent neutral, 28% of respondent agree, 23% of respondent strongly agree

7. Feel valued at Rane Si No 1 2 3 4 5 Total particulars Strongly disagree Disagree Neutral Agree Strongly agree No of respondents 28 19 27 40 36 150 Percentage of respondents 18.66667 12.66667 18 26.66667 24 100

30% 25% 19% 20% 15% 10% 5% 0% Strongly disagree Disagree Neutral 12% 18%

27% 24%

Agree

Strongly agree

Inference From the above chart shows that feel value at rane, 19% of respondent strongly disagree, 12% of respondent disagree, 18% of respondent neutral, 27% of respondent agree, 24% of respondent strongly agree. 8. Your relationship with your supervisors Si No 1 2 3 4 Total particulars Unsatisfactory Satisfactory Good Excellent No of respondents 29 53 38 30 150 Percentage of respondents 19.33333 35.33333 25.33333 20 100

20%

19% Unsatisfactory Satisfactory Good

25% 35%

Excellent

Inference From the above chart shows that relationship with your supervisors, 19% of respondent unsatisfactory, 35% of respondent satisfactory, 25% of respondent good, 20% of respondent excellent. 9. Please rate your manager/supervisor Not at All Resolve complaints and concerns promptly Listen to suggestions Encourage cooperation Treat you fairly Provide leadership Clearly communicated expectations Is honest Give performance feed back Coached, trained and developed Recognize accomplishment Provide appropriate and challenging Assignment Build team work 19 17 38 35 44 52 49 46 150 150 18 16 23 26 28 36 22 32 22 28 26 24 29 34 44 29 38 39 27 29 49 48 53 42 33 48 49 46 49 46 57 62 45 48 45 37 41 33 52 47 150 150 150 150 150 150 150 150 150 150 Sometim es Mostl y Alway s Total

70 60 50 40 30 20 10 0

Not at All Sometimes Mostly Always

Inference From the above chart shows the rate of managers/supervisors by the respondents.

10. Rate your opinion for the team work and cooperation Strongly disagree I feel part of team working toward a shared goal There is mutual respect for one another Politics at Rane are kept to a minimum Individual initiative is encouraged at rane 23 29 31 38 29 150 17 22 33 42 36 150 18 20 34 40 38 150 16 22 32 38 Disagree Neutral Agree Strongly agree 42 150 Total

45 40 35 30 25 20 15 10 5 0 Strongly disagree Disagree Neutral Agree Strongly agree I feel part of team working toward a shared goal There is mutual respect for one another Politics at Rane are kept to a minimum Individual initiative is encouraged at rane

Inference From the above chart shows that opinion for the team work and cooperation by the respondents. 11. Are you satisfied with the existing work environment? Unsatisfact ory Job Team Work Supervisor Management Leadership Motivation Ambience Space Management 27 30 36 28 35 28 28 30 46 39 37 52 50 52 49 42 39 45 49 40 36 40 37 46 Satisfactory Good Excellen t 38 36 28 30 29 30 36 32 150 150 150 150 150 150 150 150 Total

Comfort level when at your workstation

29

36

48

37 150

Comfort level when at your Space Management Ambience Motivation Leadership Management Supervisor Team Work Job 0 20 40 60 Excellent Good Satisfactory Unsatisfactory

Inference From the above chart shows that respondent satisfied with the existing working environment. 12. Rate the Following Particulars Establish career path at Rane Existing growth opportunities at 12 16 26 44 52 150 Not at Rarely all 18 32 Sometime s 37 Ofte n 27 Alway s 36 150 Total

Rane I get a sense of great professional & personal accomplishment from the work I do 18 23 30 42 37 150

60 50 40 30 20 10 0 I get a sense of great professional & personal accomplishment from the work I do Existing growth opportunities at Rane Establish career path at Rane

Inference From the above chart shows that rate of the respondent for the above head.

13. Approachability, friendliness and helpfulness of HR team. Si No 1 2 particulars Poor Average No of respondents 31 54 Percentage of respondents 20.6666667 36

3 4 Total

Good Excellent

40 25 150

26.6666667 16.6666667 100

16%

21% Poor

27% 36%

Average Good Excellent

Inference From the above chart shows the Approachability, friendliness and helpfulness of HR team.36% of respondent are average, 21% of respondent are poor, 27% of respondent are good, 16% of respondent are excellent.

14. Your overall experience with HR Si No 1 particulars Poor No of respondents 33 Percentage of respondents 22

2 3 4 Total

Average Good Excellent

52 30 35 150

34.6666667 20 23.3333333 100

Excellent

23%

Good

20%

Average

35%

Poor 0% 10% 20%

22%

30%

40%

Inference From the above chart shows the overall experience with HR.35% of respondent are average, 22% of respondent are poor, 20% of respondent are good, 23% of respondent are excellent. 15. Do you have any suggestion to improve employee retention? Si No 1 2 Total Yes No particulars No of respondents 33 52 150 Percentage of respondents 22 34.6666667 100

DATA ANALYSIS FOR HR RELATED QUESTIONS Age in years Si No 1 2 3 4 5 Age 20-25 years 25-30 years 30-35 years 35-40 years 40 years and No of respondents 1 2 1 3 3

above Total 10

3 3 2 2 1 1 1

0 20-25 years 25-30 years 30-35 years 35-40 years 40 years and above

Inference

From the above chart we found that age of the respondent in HR, 20-25 years 1 respondent, 25-30 years 2 respondents, 30-35 years 1 respondent, 35-40 years 3 respondents, 40 years and above 3 respondents. Working Experience Si No 1 2 3 4 5 6 Total Experience 1-2 years 2-3 years 3-4 years 4-5 years 5-6 years More than 6years No of respondents 0 1 2 3 2 2 10

3 2

2 1 0 0 1-2 years2-3 years

3-4 years

4-5 years

5-6 years

More than 6years

Inference

From the above chart we found that working experience of the respondent in HR, 1-2 years 0 respondent, 2-3 years 1 respondent, 3-4 years 2 respondents, 4-5 years 3 respondents, 5-6 years 3 respondents, more than 6 years 2 respondents.

1. Did your company is carried out good employee retention strategy Si No 1 2 3 4 5 Total particulars Strongly disagree Disagree Neutral Agree Strongly agree No of respondents 0 1 1 4 4 10

3 4 4

1 1 0 0 Strongly disagree Disagree Neutral Agree Strongly agree 1

Inference

From the above chart we found that company is carried out good employee retention strategy, 1 respondent disagree, 1 respondent neutral, 4 respondents agree, 4 respondents strongly agree.

2. Mention the main reason for an employee leaving your company Reason No growth opportunity/lack of promotion Low Salary Misguidance by the company Policies and procedures are not conducive No personal life Physical strains Uneasy relationship with peers or managers Total No of Respondent 2 2 0 1 1 2 2 10

2 1 1

Inference From the above chart shows that the main reason for an employee leaving from company. 3. Have you arrange any periodic meeting to retain the employees

Particulars Yes No Total

No of Respondent 7 3 10

Yes No

Inference

From the chart shows that arrange any periodic meeting to retain the employees, 7 respondents say yes, 3 respondents say no.

occasion of meeting

Particulars Sometimes Rarely Frequently Total

No of Respondent 3 1 3 7

3 3

1 1

0 Sometimes Rarely Frequently

Inference

From the above chart shows that 7 respondents say yes arrange any periodic meeting to retain the employees. Out of 7 respondents says the occasion of meeting, 3 respondents says sometimes, 3 respondents says frequently, 1respondent says rarely. 4. Have you change any of your company polices/procedures to employee retention

Particulars Yes No Total

No of Respondent 7 3 10

Yes No

Inference

From the chart shows that change any of your company polices/procedures to employee retention, 7 respondents say yes, 3 respondents say no.

Mention the change

Particulars Sometimes Rarely Frequently Total

No of Respondent 2 2 3 7

2 3 Sometimes Rarely Frequently

Inference

From the table shows that change any of your company polices/procedures to employee retention, 2 respondents say sometimes, and 3 respondents say frequently, 2respondent says rarely. 5. How do you read the existing performance appraisal system in the company? Si No 1 2 3 4 5 Total Fair Accurate Relevant Satisfactory Unsatisfactory Particulars No of respondents 3 1 3 2 1 10

3 3

2 2 1 1 1

Inference

From the above chart shows that how read existing performance appraisal of company, 3 respondent says fair, 1 respondent says accurate, 3 respondent says relevant, 2 respondent says satisfactory,1 respondent says unsatisfactory.

6. What is your preferable remedial measure available in the organization for performance deficiency? Si No 1 2 3 particulars Refresher training Rest the goals Withholding increments 4 Total Giving warnings 3 2 10 No of respondents 3 2

2 3 1 2 3 2

0 Refresher training Rest the goals Withholding increments Giving warnings

Inference

From the chart shows that preferable remedial measure available in the organization for performance deficiency, 3 respondents says refresher training, 2 respondents says rest goals, 3 respondents says Withholding increments, 2 respondent says Giving warnings.

7. Have you periodically increase the employee salary Si No 1 2 3 4 5 Total particulars Strongly disagree Disagree Neutral Agree Strongly agree No of respondents 2 1 2 3 2 10

2 Strongly disagree Disagree 1 Neutral Agree Strongly agree

3 2

Inference From the above chart we found that company periodically increase the employee salary,2 respondent strongly disagree, 1 respondent disagree, 2 respondents neutral, 3 respondents agree, 2 respondents strongly agree. 8. Have you recognized / rewarded your employees when they out perform Si No 1 2 3 4 5 Total particulars Strongly disagree Disagree Neutral Agree Strongly agree No of respondents 1 1 2 3 3 10

4 3 3 2 2 1 1 1 3

0 Strongly disagree Disagree Neutral Agree Strongly agree

Inference From the above chart we found that company recognized / rewarded your employees when they outperform, 1respondent strongly disagree, 1 respondent disagree, 2 respondents neutral, 3 respondents agree, 3 respondents strongly agree.

7. Did the employees feel valued at Rane Si No 1 2 3 4 5 Total particulars Strongly disagree Disagree Neutral Agree Strongly agree No of respondents 2 1 1 3 2 10

2 Strongly disagree 1 Disagree Neutral

Agree Strongly agree

Inference From the above chart we found that employees feel valued at Rane, 2 respondents strongly disagree, 1 respondent disagree, 1 respondents neutral, 3 respondents agree, and 2 respondents strongly agree.

8. Approachability, friendliness and helpfulness to employees Si No 1 2 3 4 Total particulars Poor Average Good Excellent No of respondents 1 2 3 4 10

3 3

2 2

1 1

0 Poor Average Good Excellent

Inference From the chart shows that Approachability, friendliness and helpfulness to employees, 1 respondent says poor, 2 respondents says average, 3 respondents says good, 4 respondents says excellent

9. Your overall experience with other employees

Si No 1 2 3 4 Total

particulars Poor Average Good Excellent

No of respondents 1 3 4 2 10

Poor 3 Average Good Excellent 4

Inference From the chart shows that overall experience with other employees, 1 respondent says poor, 3respondents says average, 4 respondents says good, 2 respondents says excellent. 10. Rate the your satisfaction level about the activities Highly dissatisfied Motivation Training and development Leadership skills Recognition Build team work 1 1 2 2 1 2 2 2 1 2 2 3 2 2 2 3 2 3 3 3 Dissatisfied Neutral Satisfied Highly satisfied 2 2 1 2 2

4 3 3 22 2 11 1 0 1 1 1 222 2 2 222 2 22 22 Motivation Training and development Leadership skills Recognition Build team work 3 333

Inference From the above chart shows that Rate your satisfaction level about the activities. Chi square test 1. Recognized/reward when you out perform Si No 1 2 3 4 particulars Strongly disagree Disagree Neutral Agree No of respondents 25 23 25 42

5 Total

Strongly agree

35 150

Ho= There is no relationship between Recognized/reward when you out perform and employee conflict. Degree of freedom=5-1=4 Formula (O-E) 2 2 = O E = = E Observed frequency Expected frequency

E=150/5=30 (EXPECTED FREQUENCY) O= NO.OF.RESPONDENTS (OBSERVED FREQUENCY)

Particulars

O-E

(O-E) 2

(O-E) 2

Strongly disagree Disagree Neither agree nor

25 23 25

30 30 30

-5 -7 -5

25 49 25

0.833 1.633 0.833

disagree Agree Strongly agree TOTAL 42 35 150 30 30 150 12 5 144 25 4.88 0.833 9.012

Calculated value=9.012 Table value at 5% level of significant = 9.49 (5% level degree of freedom 4)

Inference Since calculated value is less than the table value. So hypothesis should be accepted. So we conclude that there is no relationship between Recognized/reward when you out perform and employee conflict.

2. Feel valued at Rane Si No 1 2 3 4 particulars Strongly disagree Disagree Neutral Agree No of respondents 28 19 27 40

5 Total

Strongly agree

36 150

Ho= There is no relationship between Feel valued at Rane and employee conflict.

Degree of freedom=5-1=4

Formula (O-E) 2 2 = E O E = = Observed frequency Expected frequency

E=150/5=30 (EXPECTED FREQUENCY) O= NO.OF.RESPONDENTS (OBSERVED FREQUENCY) Particulars O E O-E (O-E) 2 (O-E) 2

Strongly disagree Disagree Neither agree nor disagree Agree Strongly agree TOTAL

28 19

30 30 30

-2 -11

4 121

0.133 4.033 0.333

27 40 36 30 30

-3 10 6

9 100 36 3.333 1.2 9.032

150 150

Calculated value=9.032 Table value at 5% level of significant = 9.49 (5% level degree of freedom 4)

Inference Since calculated value is less than the table value. So hypothesis should be accepted. So we conclude that there is no relationship between Feel valued at Rane and employee conflict.

3. Periodic meeting and change company policy and procedure Have you arrange any periodic meeting to retain the employees Particulars Yes No of Respondent 7

No Total

3 10

Have you change any of your company polices/procedures to employee retention Particulars Yes No Total No of Respondent 7 3 10

Ho= There is no relationship between periodic meeting to retain the employees and change any of your company policies and procedures to employee retention. Degree of freedom= (m-1) (n-1) = (2-1) (2-1) =1 Formula (O-E) 2 2 = E

O E factor

= =

Observed frequency Expected frequency yes 7 7 no 3 3 total 10 10

Periodic meeting Change company policy, procedure

total

14

20

O-E

(O-E) 2

(O-E) 2 E

7 3 7 3 total

7 7 3 3

0 -4 4 0

0 16 16 0

0 2.28 2.28 0 4.56

Calculated value=4.56 Table value at 5% level of significant = 3.84 (5% level degree of freedom 1) Inference Calculated value is greater than table value so hypothesis is rejected. We conclude that there is a relationship between periodic meeting to retain the employees and change any of your company policies and procedures to employee retention.

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